News Shots
AGR Verdict is finally out. The telcos have to make an upfront payment of Rs 10,000 crores by Mar 2021. The remaining amount has to be paid over a period of 10 years. Vodafone Idea Board to meet on Sep 4 to plan fundraising via QIP & other instruments.
Auto sales data are positive and optimistic. Maruti Suzuki has a YoY growth of 17% and Tata Motors has a YoY growth of whopping 150% in sales. Interestingly, M&M Tractor sales are up 65%. In the 2 wheeler segment, Hero Motocorp’s sales rose over 7%.
Today, the Supreme Court would hear the issue of interest being charged by lenders on deferred EMIs of term loans following the lifting of the moratorium. This can have a major impact on the banking stocks.
Adani Green got ranked as the largest power generation owner in the world.
Yes Bank to cut lending rates by 10-35 bps across tenures.
Max Health approved raising up to Rs 1,200 crore via QIP and Rs 550 crore via NCDs.
ONGC approved raising up to Rs 35,000 crore via debt. Q1 profit fell 92 percent on oil and gas price slump
Infosys will hire 12,000 American workers over the next two years, creating a 25,000 strong workforce in the U.S over five years.
Zee Entertainment Enterprises has decided to launch a new film distribution service that will offer new films on DTH and OTT platforms. This can be a game-changer as movie theatres are not expected to be open and popular anytime soon.
What to expect today?
Yesterday was volatile, just as expected. But the volatility was between expected price levels, thereby offering index traders lucrative trading opportunities. Click here for a detailed analysis of yesterday’s market and stock movements.
As I shared yesterday, there isn’t any need to be in panic or worry. Market has already stabilised and should be back on its way to higher highs.
A concern today is the Supreme Court’s ruling on loan moratorium and interest on interest. If the verdict comes out today and if it is bad for the banks, then Bank Nifty can bleed, dragging Nifty along with it. So, that is something to watch out for.
US Markets are mostly up, hitting fresh highs again. Asian markets are mixed. SGX NIFTY is currently trading at 11,482, which is 26 points lower, indicating a gap down opening in the Indian Market.
NIFTY is likely to trade between 11,400 and 11,600 today. There is support at 11,450, and 11,400 and resistance at 11,500 and 11,550.
Highest Call Open Interest at 12,000, followed by 11,500. Highest Put Open Interest at 11,000, followed by 11,300.
Foreign institutional investors (FIIs) net bought shares worth Rs 486.09 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 775.23 crore
Banks and Automobiles will be in focus today.
There will be bounceback opportunities in a lot of stocks. When a trend reversal is confirmed, it will be a great time to buy in dips for amazing swing trading opportunities.